Petroleum, often known as crude oil, is a naturally occurring liquid that is found beneath the surface of the Earth. The slow, long-term breakdown of biological stuff is where it comes from. Because it is refined in specialized refineries, this fossil fuel is significant. Moreover, the following are some typical petroleum types:

1. Petrol (Super)
2. High-speed diesel
3. Light-speed diesel
4. Kerosene Oil
5. Liquified petroleum gas (LPG)
6. Compressed Natural gas (CNG)

Petroleum Quality In Pakistan

Pakistan had been receiving a low quality petrol as compared to other countries in past. From 2016, Pakistan started importing high quality petrol with a higher Research Octane Number RON, 92. Now, the oil companies are refining RON or 97 petrol.

Petrol (Super) Price in Pakistan

This kind of petrol is also known as super with a higher octane rating that provides excellent engine performance. It is significantly used in bikes and cars. The petrol price in Pakistan is PKR 267.34, according to the latest updates.

High Speed Diesel Price in Pakistan

High-speed diesel usually powers commercial vehicles and enables them to pass 7500 RPMs. It is the ideal choice for heavy-duty cars, trucks, and buses. Additionally, the price of high-speed diesel in Pakistan is PKR 276.21, with a slight decrease of Rs 13.50.

Light Speed Diesel Price in Pakistan

Light speed diesel prices in Pakistan usually operate medium sized vehicles. These vehicles typically need more power than personalized used vehicles. The light-speed diesel price in Pakistan is RS 165.75 with an increase of RS 1.11.

Kerosene Oil Price in Pakistan

Kerosene oil holds great demand in petroleum industries across Pakistan. It usually imparts power to small machines and equipment. The kerosene oil price in Pakistan is PKR 188.83, decreasing Rs 2.19.

LPG Price in Pakistan

Pakistan imports Liquefied Natural Gas (LNG), and Liquefied Petroleum Gas (LPG) is derived from this source. LPG serves dual purposes in Pakistan. It is being used both as a vehicle fuel. However, it also meets the household requirements for natural gas. The liquid petroleum price in Pakistan is RS 254.86 per kg, effective December 1, 2023.

Compressed Natural Gas (CNG)

Compressed Natural Gas (CNG) is a clean-burning alternative fuel derived from natural gas, primarily composed of methane. It undergoes compression to reduce its volume for storage and transportation. It typically can reach pressures of 3,000 to 3,600 psi. CNG is cheaper than diesel fuel.

High Octane Price in Pakistan

Among the highest petrol prices in the world, Pakistan’s high octane petrol commands a significant price due to its superior quality and performance benefits.

Highest Petrol Rate in Pakistan

The highest petrol price in Pakistan’s history was Rs 331.38 per liter in January 2023. However, it also occasionally looms around the 230 mark whenever petroleum products are in high demand globally, as is the case these days.

Euro Fuel Emission Standards in Pakistan

Euro V Emission Standards has been officially implemented in Pakistan. These standards are better for the improvement of engine performance of vehicles. By this the pollution is also reduced and will provide a safe and green environment in future.

In 2012, Pakistan was using Euro II Emission Standards when it was expired already. Now, Pakistan has jumped to Euro V Standard in 2020 and skipped Euro III and Euro IV. Other countries were already using the Euro V Standard since 2009. And now, Euro VI Emission Standard is implemented since 2014 and by 2025 expected to implement Euro VII Standard.

De-Stabilization of Petrol Prices In Pakistan

Petrol Prices in Pakistan have been unstable since the COVID-19 crises arose across the globe. The Oil and Gas Regulatory Authority OGRA is responsible for the stabilization of Petrol Prices in Pakistan. For a couple of months, OGRA is regularly revising the prices of petrol in Pakistan after every 15 days. The petrol prices in various regions are different for others.

The global transformation of oil and gas directly affects the prices of petroleum products in Pakistan. However, there are also many local factors which are involved in the destabilization of petrol prices in Pakistan. Petroleum Resources, Economic Situations and Instable Political Setup are the major local factor among them. Resultantly, petrol prices go to frequent ups and downs.

Petrol Price – 2018 and Beyond

Based on the value of the Rupee in the international market, the oil prices also fluctuate. Since 2018, due to the devaluation of the Rupee, oil prices in the global market have also increased in Pakistan.

In 2021, the government of Pakistan tried to regulate petrol prices in the country by decreasing the tax margin. Although effective, the strategy was a short-term solution. Issues like this are common for developing countries like Pakistan that highly rely on imported oil. This leads to inflation in the oil prices and makes it difficult for consumers to buy petrol.

The Oil and Gas Regulatory Authority (OGRA) controls the petrol rates in Pakistan. OGRA has a practice of revising all fuel prices twice a month. The new prices are announced on the 15th and the last day of each month and usually remain in effect for the next 15 days.

Historical Background of Petrol Rate

During 1990, people used only fuels in their cars due to the later evolution of CNG. The people considered it easy to top up their cars with fuel. However, the cost of petrol has been constantly rising since then. During the regime of Zardari, petrol prices were at their peak. The prices were considerably low at the end of the Nawaz Sharif regime. Due to the interim constitution, the government became unstable.

Furthermore, the prices of petrol remained constant since that time. The Oil and Regulatory Gas Authority (OGRA) sets oil prices today and in the future. The petrol price in Pakistan can vary depending upon several factors. It includes the economic condition of the country, geopolitical factors, and government policies. However, you can check it here on Motowheelpk.